Norsk Titanium secures investment from Applied Ventures

Sep 19, 2016 | By Benedict

Norsk Titanium, a Norwegian supplier of 3D printed titanium components, has announced investment from Applied Ventures, the venture capital arm of Applied Materials, a California-based chip and advanced display specialist. Terms of investment were not released.

Silicone Valley-based Applied Materials, the world’s leading provider of materials engineering solutions used to produce chips and advanced displays for electronic devices, has signalled its serious interest in additive manufacturing and the potential of titanium-based 3D printing with its investment in Norsk Titanium, the world’s leading supplier of aerospace-grade, additive manufactured, structural titanium components.

John Andersen, Jr, Norsk Titanium Chairman of the Board, indicated in a press release that Applied Materials would be seeking to use Norsk’s Rapid Plasma Deposition technology in its additive manufacturing engineering solutions while continuing to utilize its own capabilities in materials engineering and process management. Andersen added that the new partnership would bring “unprecedented levels of productivity” to Norsk customers.

An Applied Materials system for producing LCD displays

Norsk Titanium's additive manufacturing factory of the future

According to Norsk Titanium, the investment from Applied Ventures will also help the Norwegian 3D printing specialist to reach previously unchartered territory in the aerospace industry. “We are positioned to make history as the first FAA-approved structural titanium additive manufactured parts to fly on a commercial airliner, and have strong views on further applications for our proprietary platform technology,” said Warren M. Boley, Jr, Norsk Titanium President & Chief Executive Officer. “It is great to have the support of an industry leader like Applied on this epic journey.”

In June 2016, Norsk Titanium announced that it had raised $25 million in investment funding to expand its 3D printing technologies, before announcing in July 2016 that it has received further funds for building the world’s first industrial-scale metal additive manufacturing plant in Plattsburgh, New York, for which the company initially received a $125 million state investment. At the 2016 Farnborough International Airshow, also in July, Norsk Titanium announced orders and strategic partnerships with Thales Alenia Space, Mecachrome, and a leading airframe OEM. Other Norsk Titanium partners and shareholders include Alcoa, Insight Equity, Precision Holdings, and Bosch Rexroth.

According to Applied Ventures, Norsk Titanium’s innovative manufacturing technique made it a promising investment proposition for the Silicone Valley company: “Applied Ventures’ investment in Norsk Titanium reflects our charter to identify and accelerate innovation around the globe, with an eye for emerging technologies where our leadership in materials engineering enables new growth markets,” commented Dr. Om Nalamasu, president of Applied Ventures.